Anka Investment Fund Society (SAFI) is in the third public offer to raise capital for its public funds destined for investments in factoring: Yaku Soles and Yaku Dollars. Why invest in factoring and from Anka? Its general manager, Joel Villanueva, provides the details in the following interview.
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How much does the factoring (invoice purchase) market move in Peru?
In 2023, the volume of the factoring market was approximately 4% of GDP. We are talking about a total of S/38,000 million. This means that the market still has a lot of growth potential. In more developed countries the volume is above 9.00% of GDP.
What is the profile of the companies that mainly use this financial product to finance themselves?
We can see that the product is being increasingly used by microenterprises to leverage their businesses. In 2023, 7.74% of negotiated invoices were discounted by microbusinesses and represented 2.63% of that year’s volume. However, at the end of the third quarter of this year, 10.39% of negotiated invoices were discounted by these companies and represented 7.41% of the negotiated volume.
How dynamic and competitive do Anka see the market?
The factoring market is constantly growing and there is still room for new competitors. There is a very strong concentration of the sector in Lima, with a participation of 81% of the negotiated volume; which leaves an important opportunity to do business in the province.
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How many bill purchasing investment funds participate in our country and how much could the volume be?
There is still ample room for growth, as public investment funds dedicated exclusively to the purchase of tradable invoices are limited. However, the participation of investment funds in this sector is growing rapidly. Currently, it is estimated that non-bank factoring represents between 15% and 20% of the total factoring market in Peru. This volume includes invoices negotiated by factoring companies that work with both public and private funds. The trend towards fund diversification suggests that, in the coming years, there could be a significant increase in the offering of specialized financial products in this sector.
What alternatives does Anka have and which ones does it plan to add in the short and medium term?
Currently, Anka has 2 public investment funds for factoring such as Yaku Soles and Yaku Dólares, whose third public offering of the year will be active until October 31. On the other hand, we are already working on converting some of our private funds to public ones. In addition, we have a vehicle leasing project, a fund for investment in technology and one for agricultural investments.
What is the estimated profitability of an investment fund that relies on factoring?
In the last 12 months, our public funds have achieved a return of more than 13% annually in soles and 12% annually in dollars. These returns position our funds as an attractive option for investors seeking stability and sustained growth in an environment of low interest rates on other financial instruments.
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Is Peru attractive for factoring?
Peru has solid regulation and a well-structured Factoring Law, which makes the country an attractive market for investors in this type of products. Despite this, it is essential to continue working on educating companies (transferors and acceptors) to guarantee a safer and more efficient market environment for all actors involved.
What are the advantages and disadvantages of business in Peru?
The main advantage is the strength of the product at a legal level, this makes it a safe investment from a legal point of view and each company must make an adequate credit evaluation of the risks it is going to take. The great disadvantage is that many large companies are reluctant to carry out factoring operations and although refusing to negotiate an invoice is illegal and even sanctioned by the Ministry of Production, the largest companies decide to stop buying from those suppliers who demand to negotiate their invoices. .
What are Anka’s plans to grow in this competitive market?
Our public funds buy their invoices mainly from factoring companies. To date we have more than 26 factoring companies affiliated with our business model, which allows us to participate in the market without having to compete directly. In 2025, we will launch our factoring module in our webapp, which can function as a White Label for factoring companies that do not yet have a system. With this, we hope that by 2025 we can affiliate more than 75% of the factoring companies in the market and build a richer ecosystem of valuable credit information for our funds and our affiliates.
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How important is price and speed of disbursement to customers?
In my experience I have seen that speed is always much more important than price. Factoring is a very interesting product in which you sacrifice a portion of your profit margin and whose liquidity should be used for a new business opportunity that allows you to create a complete new profit margin. If you repeat the cycle you create a virtuous circle of growth for your company.
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